JG Wentworth purchases digital lending platform

© Shutterstock

JG Wentworth, a consumer financial services company, recently purchased Stilt, a San Francisco-based fintech and personal loan lender.

Stilt was founded to democratize access to transparent credit products for individuals shut out by the financial system.

The purchase allows JG Wentworth to combine its nationally recognized brand with a state-of-the-art fintech platform to accelerate its entry into the consumer lending space. It also allows the company to create a hybrid loan origination model and adds Stilt’s proprietary data with more than $5 billion in loan applications and more than 2.5 million bank transactions to JG Wentworth’s database.

“We’re excited about this new direction for JG Wentworth and the possibilities it unlocks in our mission to become the leading provider of financial solutions that help everyday Americans,” Randi Sellari, JG Wentworth CEO, said. “The Stilt platform will provide industry-leading digital capabilities to JG Wentworth’s customers with a user-friendly experience and rapid underwriting decisions. We are now uniquely positioned to provide products that meet the personal finance needs of millions of our customers.”

JG Wentworth has offices in Chesterbrook, Pa., and Silicon Valley. It offers annuity payment purchasing, debt resolution services, lottery and casino payment purchasing, and structured settlement payment purchasing.